Rakuten Securities Inc. Makes New $27,000 Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Rakuten Securities Inc. bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 304 shares of the semiconductor company’s stock, valued at approximately $27,000.

Several other large investors also recently bought and sold shares of MCHP. Norges Bank purchased a new stake in Microchip Technology during the 4th quarter worth approximately $412,120,000. Mizuho Markets Americas LLC purchased a new stake in shares of Microchip Technology in the 3rd quarter valued at $225,800,000. Prudential Financial Inc. boosted its holdings in shares of Microchip Technology by 98.5% in the 1st quarter. Prudential Financial Inc. now owns 2,056,405 shares of the semiconductor company’s stock valued at $154,518,000 after acquiring an additional 1,020,624 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Microchip Technology by 122.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,529,186 shares of the semiconductor company’s stock valued at $119,353,000 after acquiring an additional 840,526 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Microchip Technology by 173.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,062,611 shares of the semiconductor company’s stock valued at $82,937,000 after acquiring an additional 673,924 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

MCHP opened at $84.21 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The company has a market cap of $45.51 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 2.60 and a beta of 1.65. Microchip Technology Incorporated has a 52-week low of $68.75 and a 52-week high of $94.30. The firm’s fifty day simple moving average is $86.58 and its two-hundred day simple moving average is $84.24.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The company’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same period last year, the firm posted $1.48 earnings per share. Equities analysts anticipate that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.45 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Thursday, February 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 42.06%.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 1,970 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now directly owns 1,789 shares in the company, valued at $150,276. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Analysts Set New Price Targets

MCHP has been the topic of several recent research reports. Stifel Nicolaus upped their price objective on shares of Microchip Technology from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday. StockNews.com downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Piper Sandler downgraded shares of Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 price target on the stock. in a report on Thursday, January 4th. Evercore ISI started coverage on shares of Microchip Technology in a research report on Tuesday. They set an “outperform” rating and a $106.00 price target on the stock. Finally, Truist Financial dropped their price target on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, January 9th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.50.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.